Birkbeck University - Business Behaviors
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7 Terms
Capital
The factories, machinery, and equipment owned by a business and used in production. Financial assets that are available for use.
Public Limited Company
When shares are sold on the stock exchange and are available to the general public.
Private Limited Company
When shares are not sold on the stock exchange and are available to family and/or friends
Sole Trader
A Sole Trader is a common business structure where an individual who owns and run their business by themselves.
Partnership
A partnership is a business owned by 2 or more people who share the responsibilities of running it.
Franchise
A business arrangement where a company grants permission to an individual the right to use its brand name, trademarks, and operational systems for an initial fee and royalties.
Entrepreneur
An individual who plans, organizes, and manages a business, and takes on financial risks doing so.